Aberdeen and Southampton airports have been sold by owners Heathrow Airport Holdings (HAH) in a £1bn deal.

The three airports will now be owned by a consortium formed by two companies — Spanish firm Ferrovial and Australia-based Macquarie.

The sale is expected to be completed in January of next year.

The news was welcomed by Renfrewshire Council leader Mark Macmillan, who said: “The deal will give Glasgow Airport security of ownership and more certainty for the future”.

The three airports will be managed locally but supported by Ferrovial’s and Macquarie’s shared ownership.

Ferrovial already part-owns Heathrow, the UK’s busiest airport, and holds a 25 per cent stake in HAH, which was previously known as BAA.

The deal means HAH will now operate only its flagship London hub.

The company had previously operated seven airports but an inquiry by the Competition Commission ordered it to be broken up.

By the time of the ruling it had already sold Gatwick, before later disposing of Edinburgh and announcing the sale of Stansted last year.

Amanda McMillan, managing director of Glasgow Airport, said: “Clearly this is a landmark day for Glasgow Airport and whilst we will be sorry to leave the Heathrow group, we do so knowing we’re in an extremely strong position.

“We have benefited from considerable investment in recent years and have achieved a great deal of success in securing new routes and growing passenger numbers. Together with my team, I am looking forward to working with Ferrovial and Macquarie to further develop our airport and ensure it continues to deliver for Glasgow and Scotland.”